Intuitive Machines (NASDAQ:LUNR) Stock Price Down 4.9% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price fell 4.9% on Thursday. The company traded as low as $13.40 and last traded at $13.70. Approximately 9,277,973 shares were traded during trading, a decline of 22% from the average daily volume of 11,945,729 shares. The stock had previously closed at $14.41.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus upgraded shares of Intuitive Machines from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $32.00 to $26.00 in a research note on Friday, August 14th. Roth Capital set a $30.00 price target on Intuitive Machines in a report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a research report on Friday, July 17th. Canaccord Genuity Group decreased their price target on shares of Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Finally, B. Riley Financial cut their target price on shares of Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Intuitive Machines Trading Down 3.7%

The company’s 50-day simple moving average is $15.49 and its 200-day simple moving average is $21.18. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -13.88 and a beta of 1.86.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The business had revenue of $206.17 million during the quarter, compared to analysts’ expectations of $212.32 million. On average, equities research analysts expect that Intuitive Machines, Inc. will post -0.60 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder International L.P. Advent sold 11,495,514 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the sale, the insider owned 11,495,514 shares in the company, valued at $147,602,399.76. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $16.13, for a total value of $49,196.50. Following the completion of the sale, the insider owned 113,997 shares of the company’s stock, valued at approximately $1,838,771.61. The trade was a 2.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 12,201,528 shares of company stock valued at $158,629,235. Company insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tema ETFs LLC increased its position in shares of Intuitive Machines by 139,768.2% during the second quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock worth $66,418,000 after acquiring an additional 3,102,854 shares in the last quarter. Tidal Investments LLC acquired a new position in Intuitive Machines during the 2nd quarter valued at about $64,452,000. Renaissance Technologies LLC bought a new stake in Intuitive Machines during the 1st quarter worth approximately $35,895,000. Bank of America Corp DE raised its stake in shares of Intuitive Machines by 188.9% in the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after purchasing an additional 1,231,188 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Intuitive Machines by 28.8% in the first quarter. First Trust Advisors LP now owns 657,318 shares of the company’s stock valued at $12,200,000 after purchasing an additional 147,095 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates lunar landers, spacecraft, and related systems designed to deliver payloads to the Moon and support communications, navigation, and other lunar operations.

Its primary product platform is the Nova-C lunar lander, which is designed to transport scientific instruments, technology demonstrations, and commercial payloads to the lunar surface. Intuitive Machines also provides lunar data transmission and satellite communications services, autonomous navigation systems, precision landing technologies, and other products intended to support a broader lunar economy.

Founded in 2013 by Steve Altemus, who serves as president and chief executive officer, Intuitive Machines became a publicly traded company in 2024.